Nvidia (NVDA 2.13%) shares are up by around 525% over the past three years, making it a top performer over that time frame. While I doubt another 525% run-up is in the cards for the next three years, I do think the stock could be headed significantly higher.

Image source: The Motley Fool.

Nvidia expects monster growth from its new chips

Nvidia’s business success is tied to the AI buildout: The longer it lasts, the better the stock will do. It will also benefit from increased AI spending, although many hyperscalers are spending all of their cash flows on building new data centers already. However, one thing investors need to keep in mind is the mix of spending. Right now, many of the data centers announced last year are under…